DCG is about to close its bulk brokerage business unit, TradeBlock.

According to BlockBeats news on May 26th, Digital Currency Group (DCG) is reportedly closing its bulk brokerage business unit TradeBlock on May 31st. A spokesperson for the unit stated that "due to the overall economic situation and the continued cryptocurrency winter, as well as the challenging US digital asset regulatory environment, we have decided to discontinue our institutional trading platform business." The cryptocurrency enterprise group suffered losses of over $1 billion last year. TradeBlock was acquired by CoinDesk in 2020 and later spun off as an independent business unit. CoinDesk retained the purchased index data business (renamed as CoinDesk Index), while the rest of the business was divested as TradeBlock.